STATE OF NEW YORK ________________________________________________________________________ 1567 2023-2024 Regular Sessions IN ASSEMBLY January 17, 2023 ___________ Introduced by M. of A. McDONALD -- read once and referred to the Commit- tee on Local Governments AN ACT to amend the general municipal law and the education law, in relation to payments in lieu of taxes The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subparagraph (i) of paragraph (b) of subdivision 3 of 2 section 3-c of the general municipal law, as amended by section 2 of 3 subpart C of part C of chapter 20 of the laws of 2015, is amended to 4 read as follows: 5 (i) The commissioner of taxation and finance shall calculate a quanti- 6 ty change factor for each local government for the coming fiscal year 7 based upon the physical or quantity change, as defined by section twelve 8 hundred twenty of the real property tax law, reported to the commission- 9 er of taxation and finance by the assessor or assessors pursuant to 10 section five hundred seventy-five of the real property tax law. The 11 quantity change factor shall show the percentage by which the full value 12 of the taxable real property in the local government has changed due to 13 physical or quantity change between the second final assessment roll or 14 rolls preceding the final assessment roll or rolls upon which taxes are 15 to be levied, and the final assessment roll or rolls immediately preced- 16 ing the final assessment roll or rolls upon which taxes are to be 17 levied[~~. The commissioner of taxation and finance shall, as appropriate,~~ 18 ~~promulgate rules and regulations regarding the calculation of the quan-~~ 19 ~~tity change factor which may adjust the calculation based on the devel-~~ 20 ~~opment on tax exempt land~~], and shall include the change in assessed 21 value for each property on the exempt side of the tax rolls under a 22 payment in lieu of tax agreement. 23 § 2. Paragraph b of subdivision 2-a of section 2023-a of the education 24 law, as amended by section 3 of subpart C of part C of chapter 20 of the 25 laws of 2015, is amended to read as follows: EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02678-01-3

A. 1567 2 1 b. The commissioner of taxation and finance shall calculate a quantity 2 change factor for the coming school year for each school district based 3 upon the physical or quantity change, as defined by section twelve 4 hundred twenty of the real property tax law, reported to the commission- 5 er of taxation and finance by the assessor or assessors pursuant to 6 section five hundred seventy-five of the real property tax law. The 7 quantity change factor shall show the percentage by which the full value 8 of the taxable real property in the school district has changed due to 9 physical or quantity change between the second final assessment roll or 10 rolls preceding the final assessment roll or rolls upon which taxes are 11 to be levied, and the final assessment roll or rolls immediately preced- 12 ing the final assessment roll or rolls upon which taxes are to be 13 levied[~~. The commissioner of taxation and finance shall, as appropriate,~~ 14 ~~promulgate rules and regulations regarding the calculation of the quan-~~ 15 ~~tity change factor which may adjust the calculation based on the devel-~~ 16 ~~opment on tax exempt land~~], and shall include the change in assessed 17 value for each property on the exempt side of the tax rolls under a 18 payment in lieu of tax agreement. 19 § 3. This act shall take effect on the one hundred twentieth day after 20 it shall have become a law. Effective immediately, the addition, amend- 21 ment and/or repeal of any rule or regulation necessary for the implemen- 22 tation of this act on its effective date are authorized to be made and 23 completed on or before such effective date.

Relates to payments in lieu of taxes

What's Happening

Why It Matters